FundedNext Review (5% discount code: FOREXPROPREVIEWS)
4.8

FundedNext Review (5% discount code: FOREXPROPREVIEWS)

FundedNext offers forex traders up to $200,000 funds to financially empower them and help them earn full-time. Depending on their preferences, traders can choose from two funding program options: evaluation and express funding.
Home » FundedNext Review (5% discount code: FOREXPROPREVIEWS)

FundedNext is a proprietary trading firm who have been developing for two and a half years before they decided it was the right time to go live. They have prepared funding options for traders worldwide while operating from four different locations.

Pros
  • In development for 2.5 years before the launch
  • Excellent Trustpilot rating of 4.7/5
  • Unlimited evaluation free retries
  • Maximum balance of $4,000,000
  • Profit split of 15% for evaluation stages
  • Up to 90% profit split
  • No restrictions on trading style
  • Overnight and weekend holding allowed
  • Scaling account option
  • Leverage 100:1
  • A large variety of trading instruments (forex pairs, commodities, indices)
Cons
  • Consistency rule for express accounts
  • Minimum trading days: 5
  • New prop firm

Traders at FundedNext are encouraged to become successful in their trading careers. The main priority that they expect from their clients is that they are disciplined individuals who properly manage risk and focus on long-term consistency. This can be seen through the scaling plan they offer with a massive cap of $4,000,000. Traders are eligible to profit splits of 60% up to 90%, depending on the funding program options they choose. They can achieve these profits by trading forex pairs, commodities, and indices.

Who are FundedNext?

FundedNext is a proprietary trading firm incorporated on the 18th of March, 2022. They strive to provide their traders with a comfortable trading environment. To accomplish that, they have come up with two different funding models. They have offices located in the UAE, USA, UK, and Bangladesh while offering traders capital up to $4,000,000 with up to 90% profit splits. FundedNext is partnered with Eightcap as their broker.

Their headquarters are located in the United Arab Emirates at the following address: AI Robotics HUB, C1 Building, AFZ, Ajman, United Arab Emirates.

Video Review

Funding program options

FundedNext offers its traders two different programs to choose from:

  • Express model
  • Evaluation model

is offering two different funding models to their community. You can choose between a two-step evaluation model and a one-step express model.

Express model accounts

FundedNext express model account allows traders to meet the one-step evaluation requirements with no maximum trading day requirements, where with 1:100 leverage.

The express model evaluation phase requires a trader to reach a profit target of 25% without surpassing the 5% maximum daily or 10% maximum loss rules. You have no maximum trading day requirements, so you can take as long as you please. However, during your trading period, you have a requirement to trade for at least 10 trading days per month. While trading, you are also required to respect the consistency rule that will assist you in sharpening your trading habits and make sure you are gaining your profits in a consistent way until you reach your profit target.

By completing your express model evaluation phase, you are awarded a funded account where you have no profit targets. You are only required to respect the 5% maximum daily and 10% maximum loss rules. Note that despite becoming funded, you will still require to follow their consistency rule. In addition, you are required to trade for a minimum of 10 trading days in each monthly trading cycle. Your first profit split will be 60% based on the profits that you made. You also receive a 15% profit share based on the profit you make in the evaluation phase with your first payout. After your first withdrawal, your profit split will increase to 75%, and after the second withdrawal, you will reach your final profit split of 90%.

Express model account scaling plan

Express model accounts also have a scaling plan. You are required to reach a profit target of 10% or more within a four-month period where two out of the four months were profitable and the last month has to end in profit. You will receive an account increase of 40% of the original account balance with a possibility to increase your account balance all the way up to $4,000,000.

Example:

After 4 months: If you have a $200,000 account, your account balance will increase to $280,000.

After next 4 months: Balance of $280,000 increases to $360,000.

After next 4 months: Balance of $360,000 increases to $440,000.

And so on…

Trading instruments for the evaluation program accounts are forex pairs, commodities, and indices.

Express model account rules

  • Profit target is a specific percentage of profit that a trader is required to obtain before they can complete an evaluation phase, withdraw profits, or scale their account. Profit target for the evaluation period is 25%, while the funded account has no profit targets.
  • Maximum daily loss is the maximum loss a trader can reach on a daily basis before the account is violated. All account sizes have a maximum daily loss of 5%.
  • Maximum loss is the maximum loss a trader can reach overall before the account is violated. All account sizes have a maximum loss of 120%.
  • Minimum trading days is the minimum period which you are required to trade for before you can complete an evaluation phase, or request a withdrawal. You are required to trade for a minimum of 10 trading days during your evaluation period. You will also be required to trade a minimum of 10 trading days in each monthly trading cycle.
  • No weekend holding means that traders are not allowed to hold open positions during the weekends.
  • No news trading means that traders are not allowed to trade during high-impact news releases. You are restricted from opening and closing any trade 5 minutes before and after the news.
  • The consistency rule is a rule that requires traders to have consistent position sizes, risk management, losses, gains, etc… Meaning that the characteristics of the account results should not differentiate drastically.

Evaluation model accounts

FundedNext evaluation model account aims to identify serious and talented traders who are rewarded for their consistency in the two-phase evaluation period. The evaluation program account allows you to trade with 1:100 leverage.

Evaluation phase one requires a trader to reach a profit target of 10% while not surpassing their 5% maximum daily loss or 10% maximum loss rules. You are required to hit your profit target in 30 calendar days from the day you place your first position on your evaluation account. You are also required to trade a minimum of five trading days in order to proceed to phase two.

Evaluation phase two requires a trader to reach a profit target of 5% while not surpassing their 5% maximum daily loss or 10% maximum loss rules. You are required to hit your profit target in 60 calendar days from the day you place your first position on your evaluation account. You are also required to trade a minimum of five trading days in order to proceed to a funded account.

By completing both evaluation phases, you are awarded a funded account where you have no profit targets. You are only required to respect the 5% maximum daily loss and 10% maximum loss rules. Your first profit split will be 80% based on the profits that you made. In addition, you will also receive a 15% profit share based on the profit you make in each evaluation phase with your first payout. After your first payout, you will start receiving your payouts on a bi-weekly basis.

Evaluation model account scaling plan

Evaluation model accounts also have a scaling plan. You are required to reach a profit target of 10% or more within a four-month period where two out of the four months were profitable and the last month has to end in profit. You will receive an account increase of 40% of the original account balance with a possibility to increase your account balance all the way up to $4,000,000. In addition, your profit split will also increase to 90% when you scale your account for the first time.

Example:

After 4 months: If you have a $200,000 account, your account balance will increase to $280,000.

After next 4 months: Balance of $280,000 increases to $360,000.

After next 4 months: Balance of $360,000 increases to $440,000.

And so on…

Trading instruments for the evaluation program accounts are forex pairs, commodities, and indices.

Evaluation model account rules

  • Profit target is a specific percentage of profit that a trader is required to obtain before they can complete an evaluation phase, withdraw profits, or scale their account. Phase 1 profit target is 10% while phase 2 has a profit target of 5%. Funded accounts have no profit targets.
  • Maximum daily loss is the maximum loss a trader can reach on a daily basis before the account is violated. All account sizes have a maximum daily loss of 5%.
  • Maximum loss is the maximum loss a trader can reach overall before the account is violated. All account sizes have a maximum loss of 10%.
  • Minimum trading days is the minimum period which you are required to trade for before you can complete an evaluation phase, or request a withdrawal. Both phases have a 5 minimum trading day requirement.
  • Maximum trading days are the maximum period in which you are required to hit a specific profit target or withdrawal target. Phase 1 has a maximum of 30 trading days period while phase 2 has a maximum of 60 trading days period.
  • No news trading means that traders are not allowed to trade during high-impact news releases. You are restricted from opening and closing any trade 2 minutes before and after the news (only on funded accounts).

What makes FundedNext different from other prop firms?

FundedNext is different from most industry-leading prop firms due to offering two different funding models: Express and Evaluation. In addition, they also have relatively relaxed trading rules. You can trade during the news on Evaluation model accounts (phase one and phase two), hold trades over the weekend (Evaluation model accounts), and hold trades overnight.

Compared to other prop firms, FundedNext express model accounts are a one-phase evaluation program that requires traders to complete and hit a profit target before being eligible for payouts. The profit target for the evaluation program is 25%, with a 5% maximum daily and 10% maximum loss rules. You are also not allowed to hold trades over the weekend and trade during high-impact news releases. You have a requirement of 10 minimum trading days while there are no maximum trading day limitations. Express model accounts also have a scaling plan with the potential to work with up to $4,000,000 capital.

FundedNext evaluation model, on the other hand, is a two-phase evaluation program that requires traders to complete two phases before being eligible for payouts. The profit target is 10% in phase one and 5% in phase two with a 5% maximum daily and 10% maximum loss rules, you are also required to trade for a minimum of 5 days in each phase before becoming funded. Evaluation programs also have a scaling plan. Compared to other industry-leading prop firms, they have average profit targets and minimum trading day requirements.

Example of comparison between FundedNext & My Forex Funds

Trading objectivesFundedNextMy Forex Funds
Phase 1 profit target10%8%
Phase 2 profit target5%5%
Maximum daily loss5%5%
Maximum loss10%12%
Minimum trading days5 calendar days5 calendar days
Profit split80% up to 90%75% up to 85%

Example of comparison between FundedNext & E8 Funding

Trading objectivesFundedNextE8 Funding
Phase 1 profit target10%8%
Phase 2 profit target5%5%
Maximum daily loss5%5%
Maximum loss10%8%
Minimum trading days5 calendar daysNo minimum trading days
Profit split80% up to 90%80%

Example of comparison between FundedNext & True Forex Funds

Trading objectivesFundedNextTrue Forex Funds
Phase 1 profit target10%8%
Phase 2 profit target5%4%
Maximum daily loss5%5%
Maximum loss10%10%
Minimum trading days5 calendar daysNo minimum trading days
Profit split80% up to 90%80%

In conclusion, FundedNext is different from most industry-leading prop firms by offering two different funding programs. In addition, they also offer traders relatively relaxed trading rules, which makes them an excellent choice no matter what type of trader you are.

Is getting FundedNext capital realistic?

It’s essential to see how realistic the trading requirements are when looking at prop firms that best suit your forex trading style. For example, a company offering a high % profit split on a highly funded account sounds great, but if they expect high % gains per month with low % maximum drawdowns, your chances of success become close to zero.

Receiving capital from the express model is realistic despite the fact they have a profit target of 25% with a 5% maximum daily and 10% maximum loss rules. The main reasoning behind that is due to the fact that there are no maximum trading day limitations. You can take your time by slowly acquiring profits and achieving your profit target to become funded.

Receiving capital from the evaluation model is realistic mostly since they have industry-average profit targets (10% in phase one and 5% in phase two) and maximum loss rules (5% maximum daily and 10% maximum loss).

After considering all of that, FundedNext is an excellent choice to get funded since you can choose between two different funding programs: Express and Evaluation, which have realistic trading objectives to follow and conditions to receive payouts.

Payment proof

FundedNext was incorporated on the 18th of March, 2022. They have now been running for half a year and are developing into one of the best proprietary trading firm choices in the industry.

You can see payment proof by clicking on the image below!

More payout proof can mostly be found under posts on their Instagram account. In addition, you can also find a large number of payout proof in their Discord channel under payout-proof and 5-digit payouts general chats.

Which brokers does FundedNext use?

FundedNext has integrated its technology with a broker Eightcap, an ASIC-regulated broker in Melbourne, Australia. They were founded in 2009 with a simple, straightforward mission to provide exceptional financial services to its clients. They have five offices around the globe and regulations in multiple locations providing clients worldwide with the ability to trade on markets across FX, indices, commodities, and shares.

Eightcap is considered average-risk, with an overall Trust Score of 73 out of 99. They have the following features:

  1. Forex Trading
  2. CFD Trading
  3. Cryptocurrency Trading
  4. Social Trading/Copy-Trading
  5. A total of 326 Tradeable Symbols
  6. A total of 45 Forex Pairs

They offer two account types, one being Raw and the other Standard. The commissions and fees will depend on which of the two you choose. Fees for Standard accounts are built into a spread and for Raw accounts into a commission. Another fee you should always consider is the overnight fee, which is an interest for holding an open position overnight in trading.

Being a MetaTrader only broker, their offers are MetaTrader 4 and the newer MetaTrader 5 platforms from MetaQuotes Software Corporation.

They deliver a personalized trading experience and create an ultra-efficient technology infrastructure for you to trade on and have been awarded the Best Global Forex MT4 Broker 2020 at the Global Forex Awards for doing so.

As for trading platforms, you can use MetaTrader 4.

Trading instruments

FundedNext allows you to trade forex pairs, commodities, and indices with a 1:100 leverage.

FOREX:AUD/CADAUD/CHFAUD/JPYAUD/NZDAUD/SGD
AUD/USDCAD/CHFCAD/JPYCHF/JPYEUR/AUDEUR/CAD
EUR/CHFEUR/HUFEUR/JPYEUR/NOKEUR/NZDEUR/PLN
EUR/TRYEUR/USDGBP/AUDGBP/CADGBP/CHFGBP/JPY
GBP/NZDGBP/USDNZD/CADNZD/CHFNZD/JPYNZD/USD
SGD/JPYUSD/CADUSD/CHFUSD/DKKUSD/HKDUSD/HUF
USD/JPYUSD/MXNUSD/NOKUSD/PLNUSD/SEKUSD/SGD
USD/THBUSD/TRYUSD/ZAR
COMMODITIES:UKO/USDUSO/USDXAU/USDXAG/USD
INDICES:FRA40EUSTX50JPN225NDX100SPX500
UK100US2000USDXVIXAUS200GER30
HK50US30

Trading fees

Trading commission:

AssetsFee terms
FOREX 3 USD / LOT
COMMODITIES 0 USD / LOT
INDICES 0 USD / LOT

Spread:

In order to check the live spreads login to the trading account below:

PlatformServerLogin numberPasswordDownload platform
MetaTrader 4EightcapLtd-Demo319922367ZGV8BVsBClick here

Education & Support for traders

FundedNext does not provide any educational content on its website.

On the other hand, they have a thread about them on Forex Factory to discuss details about the firm and the features they provide to other users.

Another thing FundedNext provides to its traders is a well-structured dashboard that all of its clients can access, making it easier to manage risk with all the objectives of their statistics.

Traders comment about FundedNext

FundedNext has excellent reviews from its community.

On Trustpilot, they have a rating of 4.4/5 from 234 reviews. Note that they only launched on the 18th of March, 2022, which means that they have already acquired a huge following from their community in such a short time period.

FundedNext’s community mostly praises their responsive customer support team and the smoothness of their well-structured dashboard.

Social media statistics

FundedNext can also be found on social media.

They have a:

  • Facebook page with 14,278 followers,
  • Twitter account with 1,450 followers,
  • Instagram account with 11,3k followers, and
  • Youtube channel with 5,42k subscribers and 39 uploaded videos.

In addition, FundedNext also has a Telegram channel with 5,453 members and a Discord channel with 9,922 members.

Support

FundedNext has a FAQ page where you might find the missing information you are looking for.

The support team is available on their social media, or you can directly contact them on their email support@fundednext.com.

FundedNext live chat support team is available 24/7, another way to contact them is by writing a ticket on their website. You can do so by clicking here.

Conclusion

In conclusion, FundedNext is one of the newest and legitimate proprietary trading firms in the industry that offers traders a chance to choose between the express and evaluation models. In addition, they also have relatively relaxed trading rules. You can trade during the news on Evaluation model accounts (phase one and phase two), hold trades over the weekend (Evaluation model accounts), and hold trades overnight on both account types during all phases.

Express model accounts are a one-step evaluation challenge that requires the completion of one phase before becoming funded and being eligible to earn profit splits. FundedNext requires traders to reach a profit target of 25% before becoming funded while respecting the 5% maximum daily and 10% maximum loss rules. In addition, you are required to trade for a minimum of 5 calendar days with no maximum trading days limitations, meaning that you can acquire profits slowly and take all the time that you need. With express model accounts, you can earn 60% up to 90% profit split while also being able to scale your accounts.

Evaluation model accounts are an industry-standard two-phase evaluation challenge that requires the completion of two phases before becoming funded and being eligible to earn profit splits. FundedNext requires traders to reach profit targets of 10% in phase one and 5% in phase two before becoming funded, which are realistic trading objectives considering you have a 5% maximum daily and 10% maximum loss rules to follow. With evaluation programs, you can earn 80% up to 90% profit splits while also being able to scale your accounts.

I would recommend FundedNext to any trader who is looking for a legitimate prop firm with straightforward rules and trading objectives. While they are one of the newest prop firms in the industry, they have proven themselves to be trustworthy and a safe choice for anyone looking to acquire capital with them. In addition, they also offer traders excellent conditions for a large pool of individuals with unique trading strategies. After considering everything FundedNext has to offer, they are for sure one of the industry-leading proprietary trading firms at the moment.

This review about FundedNext was lastly updated on 31.08.2022 at 12:47 (CE(S)T).

So, what do you think about the layout of the Proprietary Trading firm? Does FundedNext have the instruments that you want to trade?

Let us know if you enjoyed our FundedNext Proprietary Trading firm review!

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FundedNext Review (5% discount code: FOREXPROPREVIEWS) Details

Trading platform
Deposit Methods
Withdrawal Methods
Tradable instruments
Brokers
Account Currencies
Leverage
Maximum capital allocation
Account size up to:
$200,000
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*Choose your account size and make a payment
5.0
Fees
5.0
Trading platform
5.0
Deposit and withdrawal
4.0
Customer Support
4.8 Overall Rating

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